Audubon County Republican. [volume] (Audubon, Audubon Co., Iowa) 1885-1894, 1887-03-24
AN EMBELZLER ABSCONDS.
Short Nearly a Quarter Of Million Of
pollars.
Some Of the Financial Operations OF
VIM. E. Lawton, OF the Firm OF
LnNvtou Bros, N. Y.

New YoRK, March 10. The sheriff has
seized the place OF William f. Lawton,
who did business under the name OF Law
ton Bros, as fertilizers, under attach
ments on creditors claims amounting to
$245, 900. II is charged that Lawton alb
seconded to defraud his creditors, that he
disposed Of his property and took large
amount of money with him, Lawton
was director in the Delta A2otin Co., and
was entrusted with 500, 900 in notes to
discount for the company, On March 10
Lawton is said to have absconded with
the proceeds of the discounted notes.
The disappearance of Lawton has ere.
ated u great deal Of apprehension, and II
is generally believed he Is bankrupt, He
left the Office Tuesday afternoon, MS us.
ual, to go home on tho Hudson, and no
has not been seen since. His cashier
states that several attachments have been
obtained, but outside of that nothing is
known. The amount OF his liabilities Is
said to be about 81, 00O,0 600. Lawton Is u
widower and sole representative OF the
firm, his brother, who was associated
with him, having died some time ago,
Rufus |. Kirkland, Lawton's cashier,
states that Tuesday Lawton withdrew all
his funds from the different banks In
which he deposited and took the money
with him. Lawton, before his departure,
destroyed all stubs, checks and papers Of
every kind from which Information could
be secured as to the disposition Of tho
funds and property, Joseph ID. Jones
placed in Lawton's care Tuesday, on be-
half OF the company, $4,000, This Is
also gone. Kirkland states that Tuesday
he had an interview with Lawton nj
Broadway and Wall streets, and that
Lawton requested him to go with him TO
the officers Of the Third National bank
and introduce him. This he did Law
ton also asked him to obtain blank war
ranty deed for conveyance OF real estate
in New Jersey, and to meet him at the
New York Hotel He met Lawton there
with the blank deed and both went to
the Grand Central depot Lawton told
kirkland he intended to leave the city by
the train; that he had drawn all tho
money on deposit; that he was ruined;
that he did not know what TO do, ana
that he would probably commit suicide
Lawton further said he had exhausted all
his resources and was not able to pay out
any money in his possession, He left
Kirkland to take the train. A second at
tachment was issued ut the instance OF
the Chemical Ammoniatc and OIL Co,
upon q similar claim The company de-
livered to Lawton promissory notes of
the value Of $120, 900 in trust to discount
notes and hold the proceeds for the com
pany's benefit. In addition he received
$s, 900 in money He discounted the
notes, kept the proceeds and also kept
Al H. and pnnUnrfnI II n hiQ
use. The third claim Is one for $1,000
for professional services by Robert A,
Van Wyck, rendered to Lawton. A
number of banks are reported heavy
losers through the negligents of Lawton' g
paper, among them the First and Third
National, Bank Of the Republic and
Chemical bank.
Mr.. Lawton owned about 600 acres OF
land near Didgefleld, N. j., known rs
Delta, which he valued at $4OO, 900, but
which cost him $97, 900. He also owned
house at Spuyten Duyvel, N Y; had
property at Chelsea, Mass, and was In.
terested in gas company at Atlanta and
Macon, Ga.
Various theories are advanced as to the
cause Of his fight, He is said TO have
lost money in speculation, The general
impression is that he became involved,
and heing pressed he took what money
he could get in hurry and ran away
that he has gone TO England.
The amount of his liabilities is various
" estimated at from $500. 900 TO 200, 900,
but IL Is thought that the full liabilities
will not exceed the former figure. The
amounts he has obtained on note from the
various banks is known to DO at leas,
$3.50 900. At the American Exchange
bank the cashier said Mr.. Lawton had q
small account there, and there was d
small balance which he had not drawn
The bank holds $50 900 of business paper
under discount, some of the Chemical
company's and some other, part believed
| to be good and the other problcmatical
The United States Trust CO., has $35 00C
bills receivable with Lawton Bros en-
dorsement. The president Of the Fourth
National bank said Lawton had a small
account there and got discounts by tha
means. The bank had discounted foul
notes receivable, endorsed by Lawtor
Bros, aggregating S11,777 They were
all business paper and were secured TIT
first fell due March 2S, and was made II
December last At the Third Nationa
bank the cashier said that the bank helt
none of Mr.. Lawton's own paper, bu
had some Of his business paper which
was perfectly secured. He had a small
amount, but there was no money Their
now. The Commercial National banl
has s., 100 of his receivable and som
collateral. The bank has attached som
of his property. Titus Mead, note broker
so Wall street, negotiated great deal o
Lawton Bros. paper for years past. Mi
Mead said that he had out now less tba
500, 600 Of rcceivables bearing Mr. Law
toms name. The Delta Actin compan
has attached Mr. Lawton's property a
Delta and the house at Spuyten Duyvel
Mr.. Lawton is said to be about SO year
of age and has been widower for abou
two years.